Green Tea Launches HK$1.2 Billion Hong Kong IPO

MT Newswires

Green Tea Group (HKG:6831) launched its initial public offering in Hong Kong on Thursday, seeking to raise HK$1.21 billion.

The operator of casual Chinese restaurants is offering 168,364,000 shares at HK$7.19 apiece, according to a Thursday filing with the Hong Kong Exchange.

The restaurant chain expects to disclose the allocations on May 15 and start trading on the Hong Kong bourse on May 16.

The restaurateur intends to use the IPO proceeds to expand its restaurant network, establish a centralized food processing facility, upgrade its IT infrastructure, and boost working capital.

Green Tea Group secured $87.3 million in cornerstone investments from eight investors, including Shanghai Ziyan Foods , Charoen Pokphand Group , and Huabao Flavours & Fragrances .

Citigroup, CMB International Capital, GF Securities Brokerage, and Guoyuan Securities Brokerage are the IPO's joint global and overall coordinators.

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Ziyan Foods Investing 10 Million Yuan in Equity Investment Fund

MT Newswires

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Shanghai Ziyan Foods subsidiary Hainan Zixi committed 10 million yuan to participate in the Hunan Qiantai Venture Investment fund.

The planned investment accounts for 20% of the fund's total subscription of 50 million yuan, according to a Tuesday filing with the Shanghai bourse.

Shares of the cooked food producer were down more than 1% Tuesday.

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Ziyan Foods to Raise Subsidiary's Capital by 480 Million Yuan

MT Newswires

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Shanghai Ziyan Foods will increase the capital of its food-manufacturing subsidiary, Hainan Yunzi Food, by 480 million yuan as part of the group's long-term development plan, according to a Shanghai Stock Exchange disclosure on Thursday.

After the transaction, Yunzi Food's capital will rise to 600 million yuan from 120 million yuan, the Chinese cooked food product manufacturer said.

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Green Tea Launches HK$1.2 Billion Hong Kong IPO

Ziyan Foods Investing 10 Million Yuan in Equity Investment Fund

Ziyan Foods to Raise Subsidiary's Capital by 480 Million Yuan

Risk Disclosure